Economy is in the tank, banks are reeling, inflation is sky-high and there's more Biden isn't telling you

[thaibeachlovers]

12 hours ago, amexpat said:

Yeah, totally equivalent. 

 

Don't get that. The point was that Clinton co operated with the GOP and things went well, apparently.

Co operation is more productive than non co operation.

[thaibeachlovers]

8 hours ago, Presnock said:

yea. but he did't do anything about the pandemic upsurge which trashed the world economy together

with the Russian invasion of Ukraine.  Trump and his lies together with most of the Republican Party

are destroying democracy in the US.  I hate Democrats even more as it seems ALL politicians want

to do is work towards re-election because stupid voters will keep them drawing a Govt check without

having to fix any of the nation's problems.  Biden and Trump both need to get lost and a younger

generation maybe won't be so corrupt.  My opinion only based on too many years of seeing the same

useless politicians re-elected over and over.

 

 

Harris is a "younger generation" and I hope for all our sakes she never gets to be POTUS.

I know of lots of younger politicians I don't trust, mainly because they never had any real life experience and went straight into politics.

 

I'd like a 3 term limit on ALL politicians, and 2 terms if over 4 years- one term for presidents and PMs. IMO politics shouldn't be a career choice.

[thaibeachlovers]

1 hour ago, gamb00ler said:

I'm thinking you're the only one unable to translate "Biden's dollar" to "the dollar during Biden's presidency"
OR
you're now scraping the bottom of the barrel for any criticism of the counter argument.

 

Neither explanation paints you in a flattering light.

Whatever your point may be ( I'm not sure what it is ), but IMO Biden is a typical politician that likes to spend other people's money, and has he ever had a real job? He seems to have been sucking the taxpayer teat for a very long time.

[candide]

1 hour ago, thaibeachlovers said:

Don't get that. The point was that Clinton co operated with the GOP and things went well, apparently.

Co operation is more productive than non co operation.

I guess that, at that time, the GOP was not phagocyted by people like MTG and other nutters.

[heybruce]

5 hours ago, nauseus said:

Circumstance and wars led the US dollar to being the world reserve currency. Dollar selling due to the Vietnam War spending ended the BW agreement - the gold price fix had been too low for too long. These days, responsible economic policy seems to have left the building - the dot com crash and GFC just resulted in years of easy money and then insanely low interest rates in the US. The Federal Reserve seems to be no longer fit for purpose, even if it ever was. 

 

I do not know what kind of linkage to gold might work - probably too late now - some bright spark might come up with something. 

 

What evidence do you have of gold price suppression?

https://www.reuters.com/article/jp-morgan-spoofing-penalty-idINKBN26K325

 

It's not the first time either = it looks like they just did it again last week:

https://reaction.life/he-who-has-the-gold-makes-the-rules/

 

You don't refute that linking currencies to gold would severely restrain economic growth.

 

You have no idea of how such a linkage would work.

 

You don't dispute the fact that the value of the US currency is determined in a global free market, and if it were mismanaged its value would crash and it would cease to be the world's reserve currency.

 

You just have links to news stories about JPMorgan playing illegal games in the precious metals futures market.  Where do these stories state that the results had any measurable impact on the price of gold?

Edited April 11, 2023 by heybruce

[ozimoron]

2 hours ago, thaibeachlovers said:

Harris is a "younger generation" and I hope for all our sakes she never gets to be POTUS.

I know of lots of younger politicians I don't trust, mainly because they never had any real life experience and went straight into politics.

 

I'd like a 3 term limit on ALL politicians, and 2 terms if over 4 years- one term for presidents and PMs. IMO politics shouldn't be a career choice.

She spent many years as the AG for the world's third largest economy. Care to explain precisely what bothers you apart from her ethnicity. We already know you have a problem with that.

[ozimoron]

2 hours ago, thaibeachlovers said:

Harris is a "younger generation" and I hope for all our sakes she never gets to be POTUS.

I know of lots of younger politicians I don't trust, mainly because they never had any real life experience and went straight into politics.

 

I'd like a 3 term limit on ALL politicians, and 2 terms if over 4 years- one term for presidents and PMs. IMO politics shouldn't be a career choice.

Even for someone who majored in political science at uni?

[nauseus]

52 minutes ago, heybruce said:

You don't refute that linking currencies to gold would severely restrain economic growth.

 

You have no idea of how such a linkage would work.

 

You don't dispute the fact that the value of the US currency is determined in a global free market, and if it were mismanaged its value would crash and it would cease to be the world's reserve currency.

 

You just have links to news stories about JPMorgan playing illegal games in the precious metals futures market.  Where do these stories state that the results had any measurable impact on the price of gold?

You don't refute that linking currencies to gold would severely restrain economic growth.  That's right - I don't.

 

You have no idea of how such a linkage would work. That's right - I said that. - too late now

 

You don't dispute the fact that the value of the US currency is determined in a global free market, and if it were mismanaged its value would crash and it would cease to be the world's reserve currency. That's right - I don't - and the present mismanagement will probably accelerate the process.

 

You just have links to news stories about JPMorgan playing illegal games in the precious metals futures market.  Where do these stories state that the results had any measurable impact on the price of gold? You asked for the proof - now you want an impact assessment too. Stop moaning.

[ozimoron]

3 minutes ago, nauseus said:

You don't refute that linking currencies to gold would severely restrain economic growth.  That's right - I don't.

 

The single reason the gold standard was dropped. The US remained in the great depression for years longer than Europe because they dropped the gold standard later.

 

3 minutes ago, nauseus said:

 

 

You have no idea of how such a linkage would work. That's right - I said that. - too late now

 

You don't dispute the fact that the value of the US currency is determined in a global free market, and if it were mismanaged its value would crash and it would cease to be the world's reserve currency. That's right - I don't - and the present mismanagement will probably accelerate the process.

 

You just have links to news stories about JPMorgan playing illegal games in the precious metals futures market.  Where do these stories state that the results had any measurable impact on the price of gold? You asked for the proof - now you want an impact assessment too. Stop moaning.

 

[nauseus]

4 hours ago, gamb00ler said:

I'm thinking you're the only one unable to translate "Biden's dollar" to "the dollar during Biden's presidency"
OR
you're now scraping the bottom of the barrel for any criticism of the counter argument.

 

Neither explanation paints you in a flattering light.

I just thought it was funny. Did you ever hear of "Bush's Dollar" or "Obama's Dollar"? 

 

I'm not looking for flattery and certainly not scraping for anything. You're so dramatic. 

[heybruce]

1 hour ago, nauseus said:

You don't refute that linking currencies to gold would severely restrain economic growth.  That's right - I don't.

 

You have no idea of how such a linkage would work. That's right - I said that. - too late now

 

You don't dispute the fact that the value of the US currency is determined in a global free market, and if it were mismanaged its value would crash and it would cease to be the world's reserve currency. That's right - I don't - and the present mismanagement will probably accelerate the process.

 

You just have links to news stories about JPMorgan playing illegal games in the precious metals futures market.  Where do these stories state that the results had any measurable impact on the price of gold? You asked for the proof - now you want an impact assessment too. Stop moaning.

Ok, we seem to be getting there.  It appears you now agree that linking currencies to gold is a bad idea.  Now all you have to do is show that current policies are resulting in a decline of the dollar.

 

Regarding suppression of gold prices, yes you did show that one bank had illegally attempted to manipulate the precious metals futures market, with no evidence of impacting  the price of gold.  You still haven't provided evidence to support your claim "there are several big banks that have interests in keeping the price down and at the moment they are able to mostly control the price."  Your JPMorgan link does not support the claim about banks controlling the price of gold.

[nauseus]

1 hour ago, heybruce said:

Ok, we seem to be getting there.  It appears you now agree that linking currencies to gold is a bad idea.  Now all you have to do is show that current policies are resulting in a decline of the dollar.

 

Regarding suppression of gold prices, yes you did show that one bank had illegally attempted to manipulate the precious metals futures market, with no evidence of impacting  the price of gold.  You still haven't provided evidence to support your claim "there are several big banks that have interests in keeping the price down and at the moment they are able to mostly control the price."  Your JPMorgan link does not support the claim about banks controlling the price of gold.

Now all you have to do ....... 

 

Bye

 

 

 

 

 

[Skipalongcassidy]

On 4/9/2023 at 11:52 AM, candide said:

It's not what Biden says, It's what economic indicators say. Strong GDP growth, low unemployment, inflation is high due to global context but decreasing (and lower than G7 average), energy production and exports have significantly increased, etc... not to mention a coherent industrial policy.

Cite your sources... your statements do not ring of truth

[sscc]

//  Zero chance of linking gold to USD again or other currencies 

 

//  USA perpetual money-printing QE and debt piling in both public and private sectors are the fundamentals of USD and US economy decline.  No forever free lunch in this planet. 

 

//  Biden policy forms the Catalyst to accelerate the De-dollarization process  -- A.) stimulating the trend in forming anti-hegemonic alliance      B.)  Weaponing USD in the war. 

 

Biden had had over 40 years of foreign affair experience before presidency.    But the global issue nowadays  is too complex for the old leader who is thinking too much about the foregone old-era geopolitics.    

  

[Hanaguma]

7 hours ago, ozimoron said:

She spent many years as the AG for the world's third largest economy. Care to explain precisely what bothers you apart from her ethnicity. We already know you have a problem with that.

Well, she DOES like to work under older men, so maybe VP is the best job for her.  She has no experience in leadership whatsoever, no discernible political philosophy, and is remarkably poor on the retail political level. Remember how successful she was in the 2020 Democratic primaries?

[placeholder]

1 hour ago, Skipalongcassidy said:

Cite your sources... your statements do not ring of truth

Here goes. And, I'm sure, that you as an honorable person, will acknowledge that you got this wrong once the facts are laid out before you:

https://tradingeconomics.com/united-states/gdp-growth

 

Jobs report: US economy adds 236,000 jobs in March, unemployment rate falls to 3.5%

https://finance.yahoo.com/news/march-jobs-report-april-7-2023-123139159.html

 

Inflation fell for the eighth-straight month in February

https://www.cnn.com/2023/03/14/economy/cpi-inflation-february/index.html

 

United States Exports

https://tradingeconomics.com/united-states/exports

 

I look forward to your acknowledgement that you got it wrong.

[heybruce]

38 minutes ago, sscc said:

//  Zero chance of linking gold to USD again or other currencies 

 

//  USA perpetual money-printing QE and debt piling in both public and private sectors are the fundamentals of USD and US economy decline.  No forever free lunch in this planet. 

 

//  Biden policy forms the Catalyst to accelerate the De-dollarization process  -- A.) stimulating the trend in forming anti-hegemonic alliance      B.)  Weaponing USD in the war. 

 

Biden had had over 40 years of foreign affair experience before presidency.    But the global issue nowadays  is too complex for the old leader who is thinking too much about the foregone old-era geopolitics.    

  

Your first three // statements apply more to Trump than Biden.  Except the one about stimulating forming an anti-hegemonic alliance.  I think you mean that Biden is making Russia and China unhappy.  If so, do you suggest appeasement?

[thaibeachlovers]

1 hour ago, Hanaguma said:

Well, she DOES like to work under older men, so maybe VP is the best job for her.  She has no experience in leadership whatsoever, no discernible political philosophy, and is remarkably poor on the retail political level. Remember how successful she was in the 2020 Democratic primaries?

Despite no mention of her name in that post I think It's about Harris, and I agree 100%.

 

Given her IMO abject failure on the southern border she shouldn't be allowed anywhere near the POTUS job.

[ozimoron]

6 minutes ago, thaibeachlovers said:

Despite no mention of her name in that post I think It's about Harris, and I agree 100%.

 

Given her IMO abject failure on the southern border she shouldn't be allowed anywhere near the POTUS job.

What to do? Build a wall? That worked last time. The real solution is to interdict in the countries like Guatemala to correct the push factors driving immigration.

[candide]

4 hours ago, Skipalongcassidy said:

Cite your sources... your statements do not ring of truth

Placeholder already replied on the other point, here's the energy part:

 POINTS

Since Russia’s invasion of Ukraine, the U.S. oil and gas sector has boosted exports to the point where the U.S. is at the top of the world’s energy-exporting nations.

This week new data from the U.S. government showed the U.S. exported a record 11.1 million barrels a day of oil and refined products.

“It’s amazing to think of all those decades of concern about energy dependence to find the U.S. is the largest exporter of LNG and one of the largest exporters of oil. The U.S. story is part of a larger remapping of world energy,” said Daniel Yergin, vice chairman of S&P Global.

https://www.cnbc.com/2023/03/03/ceraweek-how-russias-war-made-the-us-a-dominant-supplier-of-energy-.html

[Presnock]

On 4/12/2023 at 1:32 AM, thaibeachlovers said:

Harris is a "younger generation" and I hope for all our sakes she never gets to be POTUS.

I know of lots of younger politicians I don't trust, mainly because they never had any real life experience and went straight into politics.

 

I'd like a 3 term limit on ALL politicians, and 2 terms if over 4 years- one term for presidents and PMs. IMO politics shouldn't be a career choice.

Yessir, term limits a necessity...there is a group "term limits.com" that pushes just that and has had

some success in getting states to agree that if enough states do agree can change that law and

Congress must abide by that.  As for Harris that is just a joke - if she ever became POTUS then I would

know for sure that the American voters just pull out their choice from their rear end!  Happy SongKran!

[placeholder]

27 minutes ago, Presnock said:

Yessir, term limits a necessity...there is a group "term limits.com" that pushes just that and has had

some success in getting states to agree that if enough states do agree can change that law and

Congress must abide by that. 

"Congress must abide by that." Really? How does that work?

[EVENKEEL]

On 4/12/2023 at 3:39 AM, ozimoron said:

She spent many years as the AG for the world's third largest economy. Care to explain precisely what bothers you apart from her ethnicity. We already know you have a problem with that.

How about she's an idiot,

[Pink Mist]

A post baiting another forum member has been removed. Please stay on topic and remain civil.  Continue and you will be suspended.

 

9. You will not post disruptive or inflammatory messages. You will respect other members and post in a civil manner. Personal attacks, insults or hate speech posted on the forum or sent by private message are not allowed.

 

10. You will not post troll messages. Trolling is the act of purposefully antagonizing forum members by posting controversial, inflammatory, irrelevant or off-topic messages with the primary intent of provoking other members into an emotional response or to generally disrupt normal on-topic discussion.

[Skipalongcassidy]

On 4/11/2023 at 3:48 PM, heybruce said:

Do you understand what I mean when I state that an economy has difficulty growing faster than the money supply?  Do you understand that just as too much money chasing too few goods causes inflation, too many goods competing after too little money causes deflation?  That when this happens people have no incentive to invest in anything other than gold, causing an economy to freeze up?  Do you understand that an economy freezing up is a very bad thing?

 

One of the big drivers of the Great Depression in the 1930's was production exceeding the fixed money supplies.   Before World War One much of the world's production capacity was in Europe.  The war shut much of that down.  During the war other parts of the world ramped up production to compensate.  These new producers kept producing after the war ended and the European producers started producing again.  Total global production increased dramatically, however with currencies fixed by the gold standard the money supply couldn't be increased to accommodate.  Prices plummeted below the cost of production forcing producers out of business.  It was very bad.  That's why countries left the gold standard.

 

If all this is beyond your grasp, you shouldn't be commenting here.

 

BTW:  The price of gold isn't being suppressed, it floats freely.  If you think gold is better than money, then by all means buy gold.  Nobody is stopping you.

In 2008 I did just that... gold was $750/ounce... look at it now

[placeholder]

 

2 hours ago, Skipalongcassidy said:

In 2008 I did just that... gold was $750/ounce... look at it now

The point of BruceH's remark about investing in gold was that it is irrelevant to the issue at hand. There have been one or two posters I've encountered on aseannow.com who confess that some of their investments have taken a bath. But, oddly enough, lots and lots who share with us their past investment perspicacity.

[heybruce]

13 hours ago, Skipalongcassidy said:

In 2008 I did just that... gold was $750/ounce... look at it now

You would have done better in an S&P 500 index fund if you purchased any time from mid-2008 through 2012.  https://www.macrotrends.net/2324/sp-500-historical-chart-data

[Skipalongcassidy]

1 hour ago, heybruce said:

You would have done better in an S&P 500 index fund if you purchased any time from mid-2008 through 2012.  https://www.macrotrends.net/2324/sp-500-historical-chart-data

From $750/ounce to $2045/ounce... to date I have tripled my money... the stock market has not done that.

[nigelforbes]

4 minutes ago, Skipalongcassidy said:

From $750/ounce to $2045/ounce... to date I have tripled my money... the stock market has not done that.

If you had been invested in gold since 2006 you would indeed have done well, the question is, were you! But the point you try to make about investing in the stock market is untrue. Typically, a good quality equity investment fund will double in value every five years, that means equity fund returns could easily have tripled over the same time frame..

[Skipalongcassidy]

1 minute ago, nigelforbes said:

If you had been invested in gold since 2006 you would indeed have done well, the question is, were you! But the point you try to make about investing in the stock market is untrue. Typically, a good quality equity investment fund will double in value every five years, that means equity fund returns could easily have tripled over the same time frame..

I love the words "typically" and "good quality" and "could have"... my gold did... my other investment accounts ok but not triple... and have lost considerable value since your hero Joe has been in office.